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Bitcoin gained 120% in 2016 and has been the top performing currency in each of the past two years. The cryptocurrency surged more than $120 to a record high of $1,327 a coin shortly before 8:30 a.m. Bitcoin exploded to an all-time high on Friday morning. While bitcoin has pulled back from its record peak, it remains firmly bid, up 8.3%, or $99, at $1,291. Bitcoin has had a volatile start to 2017.

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Bitcoin price making a gigantic comeback

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The SEC will rule on SolidX Management’s proposed bitcoin ETF on March 30 and Grayscale Investments’ at a later date. Bitcoin rallied 120% in 2016 and was the top-performing currency in each of the past two years. Bitcoin is making a gigantic comeback. “Based on the record before it, the commission believes that the significant markets for bitcoin are unregulated,” the SEC said in its statement rejecting the Winklevoss twins’ ETF. Get the latest Bitcoin price here.

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Gold prices fell heavily following the result of the U.S. election, but have been recovering steadily since mid-December. Gold and bitcoin prices crossed overnight. The bitcoin market value is $20 billion, so gold vs bitcoin is psychological more than anything,” he told CNBC via email. The price for one bitcoin is now worth more than one ounce of gold, but this is less significant than it may seem, say experts. Bitcoin is a on a good run, but don’t compare it to gold just yet Friday, 3 Mar 2017 | 8:45 AM ET | 00:52The price of bitcoin continues to rise, setting a fresh record high.